This book studies unemployment and inflation in economic crises, first considering the scenario of a demand shock in … European inflation. And what is more, there would be equally far-reaching fluctuations in the European money supply and … unemployment or European inflation; there would also be an explosion of European government purchases and an implosion of the …

This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the … associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German … inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal …

' inflation aversion and exit costs. …

decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates … of inflation and growth? We find that a central bank that minimises the national welfare losses reacts less to common … the variability of common shocks is large relative to the inflation bias. For a single country, welfare is lower in this …